Symantec (NASDAQ:SYMC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently commented on SYMC. Morgan Stanley downgraded Symantec from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $37.00 to $34.00 in a report on Tuesday, October 10th. Zacks Investment Research downgraded Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Standpoint Research downgraded Symantec from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Evercore ISI reiterated a “hold” rating and set a $25.00 price target on shares of Symantec in a report on Thursday, November 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.00 price objective on shares of Symantec in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.29.

Shares of Symantec (NASDAQ SYMC) traded up $0.05 during mid-day trading on Friday, reaching $28.82. The company’s stock had a trading volume of 10,488,300 shares, compared to its average volume of 5,812,922. Symantec has a one year low of $25.64 and a one year high of $34.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $17,870.00, a P/E ratio of -49.69, a PEG ratio of 2.91 and a beta of 1.07.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. sell-side analysts expect that Symantec will post 1.05 earnings per share for the current fiscal year.

In related news, EVP Francis C. Rosch sold 57,103 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the completion of the transaction, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the transaction, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Capital World Investors raised its stake in Symantec by 3.7% during the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after acquiring an additional 2,695,567 shares in the last quarter. Vanguard Group Inc. raised its stake in Symantec by 1.3% during the second quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after acquiring an additional 757,092 shares in the last quarter. Jackson Square Partners LLC raised its stake in Symantec by 5.0% during the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after acquiring an additional 964,537 shares in the last quarter. Coatue Management LLC raised its stake in Symantec by 4.3% during the second quarter. Coatue Management LLC now owns 17,902,408 shares of the technology company’s stock worth $505,743,000 after acquiring an additional 743,961 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in Symantec by 1,784.9% during the second quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after acquiring an additional 13,546,895 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

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Symantec Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security, Cloud, Data Center Security and Cloud Workload Protection products.

Analyst Recommendations for Symantec (NASDAQ:SYMC)

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